Occupied Quadplex
1002 S 10th Street Gadsden, AL 35901
1002 S 10th Street, Gadsden, AL, 35901
$299,900
For Sale
$299,900
Four-unit quadplex offered for sale with established tenants in place for straightforward residential income operation.
Property Size2,200 SF
Price / SF$136.32
Days on Market52
Property Features for 1002 S 10th Street
General Information
- Standard status
- Active
- Size
- 2,200 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1940
Listing Agency
Precise Real Estate LLC
(256) 499-0267
Listed by
Chris Lindsey
(256) 499-0267
Source
Exitrealty
Added: May 28 Checked: Jul 17 at 4:12 am
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Precise Real Estate LLC
Investment Insights
Based on property information with market context.
This occupied quadplex contains four income-producing units, configured as a single residential rental property. With tenants already in place, the building provides an income-producing setup that can support an investor looking for an actively occupied asset rather than a vacant acquisition. The property size is listed at 2,200 square feet.
The property is located at 1002 S 10th Street in Gadsden, Alabama, and is described as conveniently situated near shopping, dining, schools, and major roadways. This placement can support tenant convenience for everyday needs and commuting access.
Offered for sale as a turnkey-style residential income opportunity, this quadplex may fit investors seeking to expand a rental portfolio with a stabilized, occupied structure. Because the units are already leased, the buyer’s focus can center on ongoing operations and resident management rather than immediate tenant placement. It is a straightforward option for those evaluating multifamily acquisitions in the Gadsden market.
The property is located at 1002 S 10th Street in Gadsden, Alabama, and is described as conveniently situated near shopping, dining, schools, and major roadways. This placement can support tenant convenience for everyday needs and commuting access.
Offered for sale as a turnkey-style residential income opportunity, this quadplex may fit investors seeking to expand a rental portfolio with a stabilized, occupied structure. Because the units are already leased, the buyer’s focus can center on ongoing operations and resident management rather than immediate tenant placement. It is a straightforward option for those evaluating multifamily acquisitions in the Gadsden market.
Key Highlights
- Four‑unit quadplex built in 1940, offered with established tenants in place
- Four income‑producing residential units for straightforward ongoing rental operations
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $19.8k | $9.00 |
| − Vacancy | −$1.5k | −$0.68 |
| EGI | $18.3k | $8.33 |
| − OpEx | −$5.5k | −$2.50 |
| NOI | $12.8k | $5.83 |
2,200 SF · lease $9.00/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$183.2K
$160.3K – $213.7K
NOI $12,821 @ 7.0% cap · market cap 4.28%
Second Best
Apartment 5plus
$164.0K
$143.5K – $191.3K
NOI $11,478 @ 7.0% cap · market cap 3.83%
Theoretical Best
Specialty Retail
$359.7K
$314.8K – $419.7K
NOI $25,180 @ 7.0% cap · market cap 8.40%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Quadplex - Four-unit quadplex offered for sale with established tenants in place for straightforward residential income operation.
Where is this quadplex located?
The property is located at 1002 S 10th Street Gadsden, AL.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Four‑unit quadplex built in 1940, offered with established tenants in place; Four income‑producing residential units for straightforward ongoing rental operations
